Pepper prices continue to fluctuate below 70,000 VND/day

DNHN - The pepper market in the country is in a gloomy state, today's price of pepper fluctuates between 66,500 - 69,500 VND/kg. Many experts advise current farmers to develop sustainably and sell enough to the market to avoid risks.

According to information from the Vietnam Pepper Association, the pepper market is on gloomy days when no producing country has recorded an increase in prices. Currently, inflation is casting a dark shadow on the global economy. Many countries have fallen into default.

In Southeast Asia, Indonesian pepper prices last week were stable and unchanged when the market was less active after Eid al-Adha. In Malaysia, domestic and international pepper prices were stable and unchanged.

In South Asia, Indian pepper prices fell in the past 2 weeks as the Indian Rupee continued to depreciate by 1% against the USD. Meanwhile, Sri Lankan pepper prices were stable after 2 consecutive weeks of increase.

In Vietnam, only domestic black pepper prices recorded a decline while the rest remained stable.

Specifically, in Dak Lak - Dak Nong province, pepper price is 67,500 VND/kg. In Ba Ria - Vung Tau province, pepper price is the highest in the whole region at 69,500 VND/kg.

In Binh Phuoc province, the price of pepper is purchased at 68,500 VND/kg. In Dong Nai and Gia Lai provinces, pepper prices are at VND 66,500/kg.

To minimize the impact of the market and help farmers feel secure to invest in production, avoiding the risks of volatile prices, for many years, localities have changed their pepper farming methods, towards stability, and sustainable output.

For example, the Dak Song district (Dak Nong) currently has 11 cooperatives that sustainably develop pepper. The whole district has more than 13,500 hectares of pepper, of which more than 12,500 hectares are harvested, with an output of more than 32,500 tons/year. Currently, there are 2,122 hectares of pepper produced by farmers in Dak Song sustainably, meeting clean agricultural standards such as VietGAP, Rainforest alliance, Grown for good...

In addition to sustainable development solutions, expert advice for farmers to only sell just enough to spend, when the price increases, sell, when the price decreases, stop. It is important not to borrow money to spend, leading to difficulty selling and not having money to repay.

PV